Skip to comments.All Korean Markets open up!
Posted on 10/12/2008 5:13:15 PM PDT by big bad easter bunny
All are up, continue capitulation!!!
S&P 500 +39.40 930.40 10/12 8:01pm
Fair Value 901.76 10/11 6:15pm
NASDAQ +44.50 1327.00 10/12 8:01pm
Fair Value 1278.19 10/11 6:15pm
Dow Jones +308.00 8678.00 10/12 8:01pm
NYSE closed Monday due to Columbus Day?
Seems to be going up at the moment.
I checked on the exchange rate for the Korean won and it was 1390 won to the dollar. It hasn’t been that bad since 1997.
Oy - I just got my stomach back from the last 5 days/nights of watching the Asian/Euro/American markets.
I shouldn’t have had a chili dog tonight :(
I was in Korea from 95-98 and remember when that hit. When I first went there, the rate was something like 750-800 Won x Dollar. In late '97 in a matter of weeks it shot up to something like 14-1500 Won x Dollar. For those of us that got paid by Uncle Sam, it was like the whole economy was on sale for 50% off.
So everything is now so underpriced that the water is warm?
DJIA futures are up 266.
Yeah Joe...I remember those days. And for those of us doing business with Korean company’s and clients...it was like a long long funeral. They have a lot of uncertainty in their house. They are always doing a major job of ‘house-cleaning’ of their gov’t and big corporate execs. Its a bear.
...and still going up as of now. :-)
Just the bond markets as the banks are on holiday.
Columbus Day is about the only day of the year that the banks, post office most other governments offices (banks shortlY?) are closed but the NYSE is open-don’t know about the other stock exchanges.
National Holiday over here in Japan so Nikkei closed .
Its getting there, but there is absolutely no sign of any bottom being formed yet. Until then, don’t try to pick one.
The volitility indexs are off the charts and you’ve got many panicking investors liquidating massive parts of their 401K and investment accounts to sit on cash. There is a total lack of confidence out there right now. They aren’t going to be jumping back in anytime soon. What I do expect soon is a pretty big short squeeze on some of the really quality names like Alcoa that have been beaten like a dog, but it may turn into a big ol dead cat bounce.
Play it very carefully. Make sure you have stops programed in tight. Don’t catch a falling knife.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.